Latest News

Refine news

Groupe BPCE priced a dual-tranche A$930 million (US$718.4 million) five-year senior-preferred and 10-year senior-nonpreferred Kangaroo deal during the third week of April, while Brisbane Airport Corporation printed its first domestic transaction since 2013. In securitisation, Suncorp-Metway netted A$1.25 billion in its Apollo 2018-1 residential mortgage-backed securities transaction.

Province of Manitoba (Manitoba) (A+/Aa2) launched a minimum A$50 million (US$38.6 million) tap of its August 2028 Kangaroo bond on 20 April. The forthcoming deal, expected to price on the day of launch, is being marketed at 52 basis points area over semi-quarterly swap and 57 basis points area over Australian Commonwealth government bond. RBC Capital Markets is lead manager.

On 20 April, Province of Alberta (Alberta) (A+/Aa1) launched a minimum A$50 million (US$38.6 million) increase to its April 2028 Kangaroo bond, via RBC Capital Markets. Indicative price guidance for the forthcoming transaction is 52 basis points area over semi-quarterly swap and 55 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.

On 20 April, Growthpoint Properties Australia (Growthpoint) (Baa2) revealed plans to meet investors in Australia and Asia regarding a possible seven-year domestic green-bond transaction. ANZ, National Australia Bank and Westpac Institutional Bank will arrange the meetings, set to commence 30 April.

Deal sources on Brisbane Airport Corporation (Brisbane Airport)’s recent domestic transaction – the issuer’s first in Australian dollars since October 2013 – say the transaction’s strong orderbook and tight pricing is proof of the Australian market’s continued competitiveness.

NWB Bank (AAA/Aaa) launched a minimum A$15 million (US$11.6 million) increase to its July 2028 Kangaroo line on 20 April, via Nomura. Indicative price guidance for the forthcoming transaction is 57 basis points area over semi-quarterly swap.

Recent deal outcomes for Transurban Queensland and Sydney Airport demonstrate the ongoing willingness of a range of international markets to provide liquidity to Australian corporate borrowers, deal sources say. While pricing outcomes vary, specific issuers’ funding strategies and the ongoing desire for investor diversification are at least as important drivers of market selection.